HQ could have supported GCR a long time ago with a higher placement, allowing GCR to get more drilling done and test more prospects, some positive results and maintaining a higher SP.
But no, they waited on the sidelines until an opportunistic bid from Heron appeared, and their weak response is to only match it to try and maintain their majority shareholding. Sorry that's a BIG FAIL for me. Its a reactive response, not a proactive one. A good Major shareholder would have continually supported the company a long time ago, with a decent placement when the SP was higher to benefit shareholders, keep exploration work going, and minimise dilution.
Why not show how serious you are HQ about being involved with GCR and lob in a premium bid to blow Heron away and show true support?
Heron's bid offers technical expertise which HQ have none of that I can see that has helped GCR so far. Time to dilute HQ and get some fresh input into the companies projects.
I would have preferred that Heron had a higher placement offer, but in the absence of strong response from HQ, Heron is a better match for GCR in my opinion and I shall vote that way.
GCR Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
